EQS-News

OTRS AG publishes half-year report 2023: Agile and customer-centric corporate approach shows good results

EQS-News: OTRS AG / Key word(s): Half Year Report OTRS AG publishes half-year report 2023: Agile and customer-centric corporate approach shows good results 31.10.2023 / 08:35 CET/CEST The issuer is solely responsible for the content of this announcement. OTRS AG publishes half-year report 2023: Agile and customer-centric corporate approach shows good results

• Double-digit revenue growth of 11.5% compared to the previous year in a difficult market environment
• Investments affect earnings development
• Further development of OTRS into a platform for management and automation of business processes planned

Oberursel, 31 October 2023: OTRS AG (ISIN: DE000A0S9R37), the manufacturer and world's largest service provider for the service management suite OTRS, has successfully completed the first half of the 2023 financial year in a difficult market environment. As expected, revenues increased by around 11.5% compared to last year's period to EUR 6,278 thousand (first half of 2022: EUR 5,629 thousand). The main driver of this development was the continued growth of the important recurring revenues, which improved by 8.1% to EUR 5,606 thousand (first half of 2022: EUR 5,186 thousand). The share of recurring revenues in total revenues was thus 89.3% (first half of 2022: 92.1%).

The basis of this steady and sustainable growth is the constant updating and improvement of the software functionalities. For this reason, OTRS AG continued to drive software development and improvement in the first half of 2023 and invested EUR 2,259 thousand in further development.

Germany continues to lag behind with the digital transformation and new technological achievements from the artificial intelligence environment pose challenges for companies. However, this has not led to decisions being made more quickly. Quite the opposite - in a market environment characterized by economic and geopolitical uncertainties, investment decisions are being put to the test more than ever and corresponding orders are being placed only very hesitantly. As a result, the sales cycle for OTRS AG has once again lengthened and requires even more intensive efforts in the acquisition of new customers.